엔진 시장 – 2029년까지의 세계 동향과 예측

Engine Market – Global Forecast To 2029

엔진 시장 – 연료 유형 (가솔린, 디젤, 천연 가스), 속도(낮음, 중간, 높음 및 매우 높음), 전력 등급, 최종 사용자 및 지역별 – 2029 년까지의 세계 동향 및 예측

Engines Market by Fuel type (Gasoline, Diesel, Natural Gas), Speed (Low, Medium, High , and Very High), Power Rating, End User, & Region – Global Trends & Forecast to 2029

　　　　주문/문의　　　　조사회사/라이센스/납기안내

Report Overview

The Engines market size was valued at USD 377.84 billion in 2024, and is estimated to reach USD 477.89 billion in 2029 and is also expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2029.

엔진 시장 규모는 2024년에 3,778억 4,000만 달러로 평가되고, 2029년에는 4,778억 9,000만 달러에 이를 것으로 추정되고 있으며, 2024년부터 2029년에 걸쳐 연평균 성장률(CAGR) 4.8%로 성장 예상됩니다.

The market benefits from supportive government policies including carbon emission reduction and the growth of sustainable energy system. Growth in demand for efficient engines is essential in the transportation and industrial sectors.These are some of the factors fueling the market growth of Engines.

“Diesel segment is expected to grow as the largest segment during the forecast period.”

The Diesel engines are growing as the largest segment in the engines market by fuel type. Diesel engines are more efficient compared to gasoline engines. Diesel has 10 to 15% more energy per gallon than gasoline engines and can deliver better fuel economy. According to, The US Department of Energy diesel engines can be 20-30 % more efficient in similar applications to gasoline engines. Diesel fuel has a higher energy density than gasoline and allows vehicles, especially heavy duty trucks, to travel on a single tank of fuel than that of gasoline.

“Automotive segment is expected to emerge as the largest segment by end-user.”

The transportation activities are expected to make automotive segment the largest end user in engines market. The rise in vehicle production, technological developments, and the demand for fuel efficient vehicles are some of the major drivers in automotive market. According to the International Organization of Motor Vehicle Manufacturers (OICA), worldwide vehicle production was estimated to be at about 85 million units and expected to reach to over 100 million units by 2025. The automotive segment is prominent due to the continuous growth in the demand for engines in new vehicles directly driving this demand.

“US to grow at the highest CAGR for North America Engines market.”

US is experiencing the highest growth rate in the engines market due to several factors. The presence of key players in US such as Caterpillar, Cummins Inc, General Motors along with a large customer base, is among the major factors driving the engines market in US. The market in US is driven by significant demand for both International Combustion Engine vehicles and electric/hybrid vehicles. The Ongoing infrastructure development and investments in transportation, energy, and industrial sectors lead to increased demand for engines, particularly for heavy machinery and generators.

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

• By Company Type: Tier 1- 30%, Tier 2- 45%, and Tier 3- 25%
• By Designation: C-Level- 30%, Director Levels- 20%, and Others- 50%
• By Region: North America- 18%, Europe- 8%, Asia Pacific- 60%, the Middle East & Africa- 10%, and South America- 4%

Note: Others include sales managers, engineers, and regional managers.

Note: The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

Caterpillar (US), Cummins Inc. (US), General Electric Company (US), RTX (US), General Motors (US), Rolls-Royce plc (UK), Mitsubishi Heavy Industries, Ltd. (Japan), Honeywell International Inc. (US), AB Volvo (Sweden), Scania (Sweden) are some of the key players in the Engines market.

The study includes an in-depth competitive analysis of these key players in the Engines market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

The report defines, describes, and forecasts the Engines market by Power Rating (Below 0.5 MW, 0.5-1 MW, 1.1-2 MW, 2.1-5 MW, 5.1-15 MW, and Above 15 MW), by Speed (Low (upto 720 rpm), Medium (720-1,200 rpm), High (1,200-1,800 rpm) and Very High (Above 1,800 rpm) ), by Fuel Type (Gasoline, Diesel, Natural Gas and Others) by end user (Automotive, Aviation, Power Generation, Construction, Industrial Manufacturing, Marine, Mining, Oil & Gas, and Others) and by region (North America, South America, Europe, Asia Pacific, and Middle east & Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Engines market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the engines market. Competitive analysis of upcoming startups in the engines market ecosystem is covered in this report.

Key Benefits of Buying the Report

• Analysis of key drivers (Increased demand for uninterrupted and reliable power supply, Growing maritime tourism and international maritime freight transportation, Growing industrialization and urbanization, Rising automotive production), restraints (Policy and regulatory uncertainty, Fluctuating oil & gas prices), opportunities (Hybrid power generation in rural and remote areas, Leveraging biogas, landfill gas, and natural gas), and challenges (Environmental concerns and emission regulations, Stringent regulatory environment for aircraft engine manufacturing and MRO) influences the growth of the Engines market.
• Product Development/ Innovation: The developments such as the XA100 adaptive cycle engine is a pivotal trend in development of engines. XA100 adaptive cycle engine, critical for future combat missions, offering enhanced performance and efficiency in varying flight conditions. This engine provides 30% greater range and significantly improved thermal management compared to current combat engines.
• Market Development: The development of engines are moving towards greater efficiency, sustainability, and power generation. Favorable government policies in carbon emission reduction, increasing demand for engines in transportation and industrial sectors, create engines market growth.
• Market Diversification: GE Aerospace and the Polish Ministry of National Defense have made an agreement regarding the acquisition of 96 Boeing AH-64E Apache Guardian helicopters, powered by GE’s T700 engines. The agreement includes Military Aviation Works (WZL-1) in Dęblin, which provides maintenance, repair, and overhaul support for the T700/CT7 engines.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Caterpillar (US), Cummins Inc. (US), General Electric Company (US), RTX (US), General Motors (US), Rolls-Royce Plc (UK), Mitsubishi Heavy Industries, Ltd. (Japan), Honeywell International Inc. (US), AB Volvo (Sweden), Scania (Sweden) among others in the Engines market.

Table of Contents

1               INTRODUCTION              23

1.1           STUDY OBJECTIVES       23

1.2           MARKET DEFINITION   23

1.3           STUDY SCOPE   24

1.3.1        MARKETS COVERED AND REGIONAL SCOPE      24

1.3.2        INCLUSIONS AND EXCLUSIONS 25

1.3.3        YEARS CONSIDERED      26

1.4           CURRENCY CONSIDERED            27

1.5           UNIT CONSIDERED        27

1.6           LIMITATIONS    27

1.7           STAKEHOLDERS               27

2               RESEARCH METHODOLOGY       28

2.1           RESEARCH DATA              28

2.1.1        SECONDARY DATA          30

2.1.1.1    Key data from secondary sources       30

2.1.1.2    List of key secondary sources              30

2.1.2        PRIMARY DATA 31

2.1.2.1    Key data from primary sources           31

2.1.2.2    Key industry insights           32

2.1.2.3    List of primary interview participants               32

2.1.2.4    Breakdown of primaries      33

2.2           MARKET BREAKDOWN AND DATA TRIANGULATION                 34

2.3           MARKET SIZE ESTIMATION METHODOLOGY     35

2.3.1        BOTTOM-UP APPROACH              35

2.3.1.1    Demand-side analysis          36

2.3.1.1.1 Regional analysis  37

2.3.1.1.2 Country-level analysis          37

2.3.1.1.3 Demand-side assumptions 37

2.3.1.1.4 Demand-side calculations   37

2.3.2        TOP-DOWN APPROACH                38

2.3.2.1    Supply-side analysis             39

2.3.2.1.1 Supply-side assumptions     40

2.3.2.1.2 Supply-side calculations      40

2.4           FORECAST          40

2.5           RISK ANALYSIS  40

2.6           RESEARCH ASSUMPTIONS           41

2.7           RESEARCH LIMITATIONS             41

3               EXECUTIVE SUMMARY  42

4               PREMIUM INSIGHTS       46

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ENGINE MARKET              46

4.2           ENGINE MARKET IN ASIA PACIFIC, BY END USE AND COUNTRY            47

4.3           ENGINE MARKET, BY END USE  47

4.4           ENGINE MARKET, BY SPEED       48

4.5           ENGINE MARKET, BY FUEL TYPE              48

4.6           ENGINE MARKET, BY POWER RATING    49

5               MARKET OVERVIEW       50

5.1           INTRODUCTION              50

5.2           MARKET DYNAMICS       51

5.2.1        DRIVERS               51

5.2.1.1    Increasing demand for uninterrupted and reliable power supply                 51

5.2.1.2    Growing maritime tourism and international marine freight transportation        52

5.2.1.3    Rapid industrialization and urbanization          53

5.2.1.4    Thriving automotive industry             54

5.2.2        RESTRAINTS      55

5.2.2.1    Disruptions in operational and investment planning due to fluctuating oil and gas prices              55

5.2.2.2    Time-consuming and costly testing processes witnessed by aircraft engine manufacturers             56

5.2.2.3    High cost of compliance impacting profitability of engine manufacturers       56

5.2.3        OPPORTUNITIES              57

5.2.3.1    Increasing deployment of hybrid power systems in rural and remote areas          57

5.2.3.2    Growing adoption of biogas, landfill gas, and natural gas as sustainable fuel alternatives                 59

5.2.4        CHALLENGES    59

5.2.4.1    Regulatory uncertainty and emergence of policies favoring EVs                 59

5.3           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            60

5.4           PRICING ANALYSIS          61

5.4.1        INDICATIVE PRICING OF ENGINES, BY POWER RATING, 2023        61

5.4.2        AVERAGE SELLING PRICE TREND OF ENGINES, BY REGION,  2021–2023        61

5.5           VALUE CHAIN ANALYSIS               62

5.6           ECOSYSTEM ANALYSIS  64

5.7           INVESTMENT AND FUNDING SCENARIO, 2024    66

5.8           TECHNOLOGY ANALYSIS             67

5.8.1        KEY TECHNOLOGIES     67

5.8.1.1    Direct fuel injection             67

5.8.2        ADJACENT TECHNOLOGIES       67

5.8.2.1    Dual-fuel and hybrid engines             67

5.9           PATENT ANALYSIS          68

5.10         TRADE ANALYSIS             72

5.10.1      EXPORT SCENARIO (HS CODE 8407)        72

5.10.2      IMPORT SCENARIO (HS CODE 8407)        74

5.11         KEY CONFERENCES AND EVENTS, 2024–2025        75

5.12         CASE STUDY ANALYSIS 76

5.12.1      CUMMINS’ PROACTIVE ENGINE HELPS WHITEHAVEN COAL IMPROVE FUEL CONSUMPTION AND REDUCE DOWNTIME       76

5.12.2      SCANIA ENGINES OFFER KOBELCO CRANES CAPACITY TO LIFT HEAVY LOADS WITH IMPROVED SAFETY            77

5.12.3      CUMMINS OFFERS ENGINES FOR TRUCKS USED IN ARIZONA MINE TO ENSURE HIGHER UPTIME AND IMPROVED FUEL EFFICIENCY            77

5.13         TARIFF AND REGULATORY LANDSCAPE               78

5.13.1      TARIFF ANALYSIS (HS CODE 8407)            78

5.13.2      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             79

5.13.3      CODES AND REGULATIONS RELATED TO ENGINE SYSTEMS              81

5.14         PORTER’S FIVE FORCES ANALYSIS           85

5.14.1      BARGAINING POWER OF SUPPLIERS       86

5.14.2      BARGAINING POWER OF BUYERS             86

5.14.3      THREAT OF NEW ENTRANTS      87

5.14.4      THREAT OF SUBSTITUTES          87

5.14.5      INTENSITY OF COMPETITIVE RIVALRY 87

5.15         KEY STAKEHOLDERS AND BUYING CRITERIA     87

5.15.1      KEY STAKEHOLDERS IN BUYING PROCESS           87

5.15.2      BUYING CRITERIA           88

5.16         IMPACT OF AI/GEN AI ON ENGINE MARKET        89

5.16.1      ADOPTION OF GENERATIVE AI/AI IN ENGINE MARKET                 89

5.16.2      IMPACT OF GENERATIVE AI/AI ON REGIONAL MARKET, BY END USE        90

5.16.3      IMPACT OF GENERATIVE AI/AI ON ENGINE MARKET, BY REGION                90

5.17         GLOBAL MACROECONOMIC OUTLOOK                90

5.17.1      INTRODUCTION              90

5.17.2      GDP TRENDS AND FORECAST   91

5.17.3      IMPACT OF CHANGES IN INFLATION RATES       91

5.17.4      CONTRIBUTION OF MANUFACTURING SECTOR TO GDP, 2023 (%)    92

5.17.5      CONTRIBUTION OF INDUSTRIAL SECTOR (INCLUDING CONSTRUCTION) TO GDP, 2023 (%)        93

6               ENGINE MARKET, BY FUEL TYPE              94

6.1           INTRODUCTION              95

6.2           GASOLINE           96

6.2.1        LOW PURCHASING AND REPOWERING COSTS TO CONTRIBUTE TO SEGMENTAL GROWTH              96

6.3           DIESEL 97

6.3.1        ECONOMICAL AND HIGH TOLERANCE BENEFITS TO AUGMENT SEGMENTAL GROWTH           97

6.4           NATURAL GAS  98

6.4.1        ENERGY EFFICIENCY AND LOW EMISSION ATTRIBUTES TO ACCELERATE SEGMENTAL GROWTH              98

6.5           OTHER FUELS   99

7               ENGINE MARKET, BY SPEED       101

7.1           INTRODUCTION              102

7.2           LOW      103

7.2.1        SURGING DEMAND FOR YACHTS AND OTHER MARINE VESSELS TO CONTRIBUTE TO SEGMENTAL GROWTH    103

7.3           MEDIUM              104

7.3.1        INCREASING USE IN SHIPPING AND POWER GENERATION APPLICATIONS TO ACCELERATE SEGMENTAL GROWTH             104

7.4           HIGH     105

7.4.1        GROWING EMPHASIS ON INDUSTRIAL DEVELOPMENT TO FOSTER SEGMENTAL GROWTH         105

7.5           VERY HIGH         106

7.5.1        QUICK-START CAPABILITY AND BETTER FUEL EFFICIENCY OF SUPERCHARGED ENGINES TO BOLSTER SEGMENTAL GROWTH  106

8               ENGINE MARKET, BY POWER RATING    107

8.1           INTRODUCTION              108

8.2           BELOW 0.5 MW  110

8.2.1        RISING POPULATION AND POWER DEMAND FROM RESIDENTIAL USERS TO FUEL SEGMENTAL GROWTH    110

8.3           0.5–1.0 MW           111

8.3.1        INCREASING INVESTMENT IN COMMERCIAL BUILDINGS AND OFFICES TO AUGMENT SEGMENTAL GROWTH                 111

8.4           1.1–2.0 MW           113

8.4.1        RAPID DIGITALIZATION AND INVESTMENT IN DATA CENTERS TO CONTRIBUTE TO SEGMENTAL GROWTH  113

8.5           2.1–5.0 MW           115

8.5.1        BURGEONING DEMAND FOR RELIABLE BACKUP POWER IN LARGE INDUSTRIAL FACILITIES TO EXPEDITE SEGMENTAL GROWTH             115

8.6           5.1–15.0 MW         117

8.6.1        INCREASING NEED FOR MEDIUM-RANGE POWER FOR INDUSTRIAL GAS TURBINE APPLICATIONS TO DRIVE MARKET                 117

8.7           ABOVE 15 MW   118

8.7.1        RISING ADOPTION OF HEAVY-DUTY GAS TURBINES IN LARGE POWER PLANTS TO BOOST SEGMENTAL GROWTH                 118

9               ENGINE MARKET, BY REGION    121

9.1           INTRODUCTION              122

9.2           ASIA PACIFIC     124

9.2.1        CHINA  129

9.2.1.1    Increasing expenditure on shipbuilding industry to drive market                 129

9.2.2        JAPAN   131

9.2.2.1    Stringent environmental regulations to foster market growth                 131

9.2.3        INDIA    132

9.2.3.1    Government initiatives in oil & gas sector to bolster market growth    132

9.2.4        SOUTH KOREA  134

9.2.4.1    Strong manufacturing sector to contribute to market growth                 134

9.2.5        AUSTRALIA         135

9.2.5.1    Expanding mining industry to provide growth opportunities for players in engine market     135

9.2.6        REST OF ASIA PACIFIC   136

9.3           NORTH AMERICA             138

9.3.1        US           143

9.3.1.1    Increasing oil & gas production to foster market growth                 143

9.3.2        CANADA               144

9.3.2.1    Growth in construction industry to expedite market growth                 144

9.3.3        MEXICO                145

9.3.3.1    Increasing oil & gas exploration activities to fuel demand for engines   145

9.4           EUROPE               147

9.4.1        GERMANY           151

9.4.1.1    Rising demand for smart homes and heating and cooling systems to boost market growth        151

9.4.2        UK          153

9.4.2.1    Booming construction and infrastructure sector to drive demand                 153

9.4.3        ITALY    154

9.4.3.1    Initiatives to reduce carbon footprint to accelerate market growth                 154

9.4.4        FRANCE                156

9.4.4.1    Rising investments in construction and residential projects to boost market growth             156

9.4.5        SPAIN    157

9.4.5.1    Growing real estate sector to fuel demand for engines  157

9.4.6        REST OF EUROPE             158

9.5           MIDDLE EAST & AFRICA                160

9.5.1        GCC       165

9.5.1.1    Saudi Arabia          167

9.5.1.1.1 Increasing government investment in power generation projects to boost demand for engines               167

9.5.1.2    UAE        168

9.5.1.2.1 Rising maritime infrastructure development to fuel market growth    168

9.5.1.3    Rest of GCC countries         169

9.5.2        SOUTH AFRICA 170

9.5.2.1    Urbanization and industrial development to augment demand for engines   170

9.5.3        EGYPT  172

9.5.3.1    Mounting demand for automotive engines to boost market growth    172

9.5.4        REST OF MIDDLE EAST & AFRICA             173

9.6           SOUTH AMERICA             174

9.6.1        BRAZIL 179

9.6.1.1    Increasing oil & gas exploration activities to fuel market growth                 179

9.6.2        ARGENTINA       180

9.6.2.1    Abundant oil & gas reserves and regulatory policies to boost market growth       180

9.6.3        CHILE   181

9.6.3.1    Expanding construction sector to support market growth                 181

9.6.4        REST OF SOUTH AMERICA           183

10            COMPETITIVE LANDSCAPE         185

10.1         INTRODUCTION              185

10.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019–2024                 185

10.3         MARKET SHARE ANALYSIS, 2023                 188

10.4         REVENUE ANALYSIS, 2019–2023  190

10.5         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023                 191

10.5.1      STARS   191

10.5.2      EMERGING LEADERS     191

10.5.3      PERVASIVE PLAYERS      191

10.5.4      PARTICIPANTS 191

10.5.5      COMPANY FOOTPRINT: KEY PLAYERS, 2023         193

10.5.5.1  Company footprint               193

10.5.5.2  Region footprint   194

10.5.5.3  Fuel type footprint                195

10.5.5.4  Power rating footprint         196

10.5.5.5  End use footprint  197

10.5.5.6  Speed footprint     198

10.6         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023        199

10.6.1      PROGRESSIVE COMPANIES         199

10.6.2      RESPONSIVE COMPANIES            199

10.6.3      DYNAMIC COMPANIES  199

10.6.4      STARTING BLOCKS         200

10.6.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023                 201

10.6.5.1  Competitive benchmarking of key startups/SMEs          201

10.6.5.2  Detailed list of key startups/SMEs    202

10.7         COMPANY VALUATION AND FINANCIAL METRICS, 2024                 202

10.8         PRODUCT COMPARISON              203

10.9         COMPETITIVE SCENARIO             204

10.9.1      PRODUCT LAUNCHES/DEVELOPMENTS               204

10.9.2      DEALS  205

10.9.3      OTHER DEVELOPMENTS              206

11            COMPANY PROFILES      208

11.1         KEY PLAYERS     208

11.1.1      CATERPILLAR    208

11.1.1.1  Business overview 208

11.1.1.2  Products/Services/Solutions offered 209

11.1.1.3  Recent developments           211

11.1.1.3.1                Product launches/developments        211

11.1.1.3.2                Deals      213

11.1.1.3.3                Other developments             213

11.1.1.4  MnM View             215

11.1.1.4.1                Key strengths/Right to win 215

11.1.1.4.2                Strategic choices   215

11.1.1.4.3                Weaknesses/Competitive threats       215

11.1.2      CUMMINS INC.  216

11.1.2.1  Business overview 216

11.1.2.2  Products/Services/Solutions offered 217

11.1.2.3  Recent developments           218

11.1.2.3.1                Product launches/developments        218

11.1.2.3.2                Deals      219

11.1.2.3.3                Other developments             219

11.1.2.4  MnM view              220

11.1.2.4.1                Key strengths/Right to win 220

11.1.2.4.2                Strategic choices   220

11.1.2.4.3                Weaknesses/Competitive threats       220

11.1.3      GENERAL ELECTRIC COMPANY 221

11.1.3.1  Business overview 221

11.1.3.2  Products/Services/Solutions offered 222

11.1.3.3  Recent developments           225

11.1.3.3.1                Product launches/developments        225

11.1.3.3.2                Deals      225

11.1.3.3.3                Other developments             226

11.1.3.4  MnM view              227

11.1.3.4.1                Key strengths/Right to win 227

11.1.3.4.2                Strategic choices   227

11.1.3.4.3                Weaknesses/Competitive threats       227

11.1.4      RTX        228

11.1.4.1  Business overview 228

11.1.4.2  Products/Services/Solutions offered 229

11.1.4.3  Recent developments           230

11.1.4.3.1                Deals      230

11.1.4.3.2                Other developments             231

11.1.4.4  MnM view              232

11.1.4.4.1                Key strengths/Right to win 232

11.1.4.4.2                Strategic choices   232

11.1.4.4.3                Weaknesses/Competitive threats       232

11.1.5      GENERAL MOTORS         233

11.1.5.1  Business overview 233

11.1.5.2  Products/Services/Solutions offered 234

11.1.5.3  MnM view              235

11.1.5.3.1                Key strengths/Right to win 235

11.1.5.3.2                Strategic choices   235

11.1.5.3.3                Weaknesses/Competitive threats       235

11.1.6      ROLLS ROYCE HOLDINGS            236

11.1.6.1  Business overview 236

11.1.6.2  Products/Services/Solutions offered 237

11.1.6.3  Recent developments           238

11.1.6.3.1                Product launches/developments        238

11.1.6.3.2                Deals      238

11.1.6.3.3                Other developments             239

11.1.7      MITSUBISHI HEAVY INDUSTRIES, LTD.  241

11.1.7.1  Business overview 241

11.1.7.2  Products/Services/Solutions offered 242

11.1.7.3  Recent developments           243

11.1.7.3.1                Product launches/developments        243

11.1.7.3.2                Deals      243

11.1.8      HONEYWELL INTERNATIONAL INC.        244

11.1.8.1  Business overview 244

11.1.8.2  Products/Services/Solutions offered 245

11.1.8.3  Recent developments           246

11.1.8.3.1                Product launches/developments        246

11.1.8.3.2                Deals      247

11.1.8.3.3                Other developments             248

11.1.9      AB VOLVO           249

11.1.9.1  Business overview 249

11.1.9.2  Products/Services/Solutions offered 250

11.1.9.3  Recent developments           251

11.1.9.3.1                Product launches/developments        251

11.1.9.3.2                Deals      251

11.1.10   SCANIA CV AB   252

11.1.10.1                 Business overview 252

11.1.10.2                 Products/Services/Solutions offered 253

11.1.10.3                 Recent developments           254

11.1.10.3.1             Product launches/developments        254

11.1.11   HONDA MOTOR CO., LTD.           255

11.1.11.1                 Business overview 255

11.1.11.2                 Products/Services/Solutions offered 256

11.1.11.3                 Recent developments           258

11.1.11.3.1             Product launches/developments        258

11.1.12   KAWASAKI HEAVY INDUSTRIES, LTD.     259

11.1.12.1                 Business overview 259

11.1.12.2                 Products/Services/Solutions offered 260

11.1.12.3                 Recent developments           261

11.1.12.3.1             Product launches/developments        261

11.1.13   TOYOTA INDUSTRIES CORPORATION   262

11.1.13.1                 Business overview 262

11.1.13.2                 Products/Services/Solutions offered 263

11.1.14   SAFRAN                265

11.1.14.1                 Business overview 265

11.1.14.2                 Products/Services/Solutions offered 266

11.1.14.3                 Recent developments           267

11.1.14.3.1             Deals      267

11.1.14.3.2             Expansions             268

11.1.15   WÄRTSILÄ           269

11.1.15.1                 Business overview 269

11.1.15.2                 Products/Services/Solutions offered 270

11.2         OTHER PLAYERS              272

11.2.1      CHANGCHAI CO., LTD.  272

11.2.2      GREAVES COTTON LIMITED      273

11.2.3      MAHINDRA&MAHINDRA LTD.   274

11.2.4      TATA MOTORS LIMITED              275

11.2.5      MTU AERO ENGINES AG                276

11.2.6      DAIHATSU DIESEL MFG. CO., LTD.           277

11.2.7      PACCAR INC.      278

11.2.8      KOHLER ENERGY             279

11.2.9      KIRLOSKAR         280

11.2.10   HD HYUNDAI HEAVY INDUSTRIES CO., LTD.       281

12            APPENDIX           282

12.1         INSIGHTS FROM INDUSTRY EXPERTS     282

12.2         DISCUSSION GUIDE        283

12.3         KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL                288

12.4         CUSTOMIZATION OPTIONS        290

12.5         RELATED REPORTS         290

12.6         AUTHOR DETAILS           291

LIST OF TABLES

TABLE 1                ENGINE MARKET: RISK ANALYSIS             40

TABLE 2                ENGINE MARKET SNAPSHOT     42

TABLE 3                WORLD FLEET, BY VESSEL TYPE, 2022–2023 (DWT)  53

TABLE 4                COMPARISON BETWEEN PETROLEUM AND OTHER LIQUIDS BASED ON DIFFERENT PARAMETERS, 2022–2025        56

TABLE 5                INDICATIVE PRICING OF ENGINES, BY POWER RATING, 2023 (USD/UNIT)           61

TABLE 6                AVERAGE SELLING PRICE TREND OF ENGINES, BY REGION,

2021–2023 (USD/UNIT)   61

TABLE 7                ROLE OF COMPANIES IN ECOSYSTEM    65

TABLE 8                LIST OF KEY PATENTS ASSOCIATED WITH ENGINE MARKET, 2023–2024        69

TABLE 9                EXPORT DATA FOR HS CODE 8407-COMPLIANT PRODUCTS, BY COUNTRY,

2021–2023 (USD THOUSAND)      72

TABLE 10              IMPORT DATA FOR HS CODE 8407-COMPLIANT PRODUCTS, BY COUNTRY,

2021–2023 (USD THOUSAND)      74

TABLE 11              KEY CONFERENCES AND EVENTS, 2024–2025                 75

TABLE 12              IMPORT TARIFFS FOR HS CODE 8407-COMPLIANT PRODUCTS, BY COUNTRY, 2023      78

TABLE 13              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  79

TABLE 14              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  80

TABLE 15              ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  80

TABLE 16              MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS             81

TABLE 17              GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  81

TABLE 18              COUNTRY-WISE AND GLOBAL CODES AND REGULATIONS RELATED TO ENGINES  81

TABLE 19              PORTER’S FIVE FORCES ANALYSIS           85

TABLE 20              INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USES     88

TABLE 21              KEY BUYING CRITERIA FOR TOP THREE END USES      88

TABLE 22              WORLD GDP GROWTH, HISTORICAL VS. PROJECTED, 2021–2028 (USD TRILLION)                91

TABLE 23              VARYING INFLATION RATES IMPACTING ENGINE MARKET, BY REGION, 2024 (%) 92

TABLE 24              CONTRIBUTION OF MANUFACTURING SECTOR TO GDP, 2023     92

TABLE 25              CONTRIBUTION OF INDUSTRIAL SECTOR TO GDP, 2023             93

TABLE 26              ENGINE MARKET, BY FUEL TYPE, 2021–2023 (USD MILLION) 95

TABLE 27              ENGINE MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION) 96

TABLE 28              GASOLINE: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)       97

TABLE 29              GASOLINE: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)       97

TABLE 30              DIESEL: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)       98

TABLE 31              DIESEL: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)       98

TABLE 32              NATURAL GAS: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)            99

TABLE 33              NATURAL GAS: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)            99

TABLE 34              OTHER FUELS: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)            100

TABLE 35              OTHER FUELS: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)            100

TABLE 36              ENGINE MARKET, BY SPEED, 2021–2023 (USD MILLION)            102

TABLE 37              ENGINE MARKET, BY SPEED, 2024–2029 (USD MILLION)            102

TABLE 38              LOW: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION) 103

TABLE 39              LOW: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION) 103

TABLE 40              MEDIUM: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)       104

TABLE 41              MEDIUM: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)       104

TABLE 42              HIGH: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION) 105

TABLE 43              HIGH: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION) 105

TABLE 44              VERY HIGH: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)       106

TABLE 45              VERY HIGH: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)       106

TABLE 46              ENGINE MARKET, BY POWER RATING, 2021–2023 (USD MILLION) 108

TABLE 47              ENGINE MARKET, BY POWER RATING, 2024–2029 (USD MILLION) 109

TABLE 48              ENGINE MARKET, BY POWER RATING, 2021–2023 (UNITS)                109

TABLE 49              ENGINE MARKET, BY POWER RATING, 2024–2029 (UNITS)                109

TABLE 50              BELOW 0.5 MW: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)            110

TABLE 51              BELOW 0.5 MW: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)            110

TABLE 52              BELOW 0.5 MW: ENGINE MARKET, BY REGION, 2021–2023 (UNITS)            111

TABLE 53              BELOW 0.5 MW: ENGINE MARKET, BY REGION, 2024–2029 (UNITS)            111

TABLE 54              0.5–1.0 MW: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)       112

TABLE 55              0.5–1.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)       112

TABLE 56              0.5–1.0 MW: ENGINE MARKET, BY REGION, 2021–2023 (UNITS)      112

TABLE 57              0.5–1.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (UNITS)      113

TABLE 58              1.1–2.0 MW: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)       114

TABLE 59              1.1–2.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)       114

TABLE 60              1.1–2.0 MW: ENGINE MARKET, BY REGION, 2021–2023 (UNITS)      114

TABLE 61              1.1–2.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (UNITS)      115

TABLE 62              2.1–5.0 MW: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)       115

TABLE 63              2.1–5.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)       116

TABLE 64              2.1–5.0 MW: ENGINE MARKET, BY REGION, 2021–2023 (UNITS)      116

TABLE 65              2.1–5.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (UNITS)      116

TABLE 66              5.1–15.O MW: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)            117

TABLE 67              5.1–15.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)            117

TABLE 68              5.1–15.0 MW: ENGINE MARKET, BY REGION, 2021–2023 (UNITS)            118

TABLE 69              5.1–15.0 MW: ENGINE MARKET, BY REGION, 2024–2029 (UNITS)            118

TABLE 70              ABOVE 15 MW: ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)            119

TABLE 71              ABOVE 15 MW: ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)            119

TABLE 72              ABOVE 15 MW: ENGINE MARKET, BY REGION, 2021–2023 (UNITS)            119

TABLE 73              ABOVE 15 MW: ENGINE MARKET, BY REGION, 2024–2029 (UNITS)            120

TABLE 74              ENGINE MARKET, BY REGION, 2021–2023 (USD MILLION)            123

TABLE 75              ENGINE MARKET, BY REGION, 2024–2029 (USD MILLION)            123

TABLE 76              ENGINE MARKET, BY REGION, 2021–2023 (UNITS)                123

TABLE 77              ENGINE MARKET, BY REGION, 2024–2029 (UNITS)                124

TABLE 78              ASIA PACIFIC: ENGINE MARKET, BY POWER RATING, 2021–2023 (USD MILLION)          125

TABLE 79              ASIA PACIFIC: ENGINE MARKET, BY POWER RATING, 2024–2029 (USD MILLION)          126

TABLE 80              ASIA PACIFIC: ENGINE MARKET, BY POWER RATING, 2021–2023 (UNITS)         126

TABLE 81              ASIA PACIFIC: ENGINE MARKET, BY POWER RATING, 2024–2029 (UNITS)         126

TABLE 82              ASIA PACIFIC: ENGINE MARKET, BY FUEL TYPE, 2021–2023 (USD MILLION)            127

TABLE 83              ASIA PACIFIC: ENGINE MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)            127

TABLE 84              ASIA PACIFIC: ENGINE MARKET, BY SPEED, 2021–2023 (USD MILLION)            127

TABLE 85              ASIA PACIFIC: ENGINE MARKET, BY SPEED, 2024–2029 (USD MILLION)            128

TABLE 86              ASIA PACIFIC: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)            128

TABLE 87              ASIA PACIFIC: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)            128

TABLE 88              ASIA PACIFIC: ENGINE MARKET, BY COUNTRY, 2021–2023 (USD MILLION)            129

TABLE 89              ASIA PACIFIC: ENGINE MARKET, BY COUNTRY, 2024–2029 (USD MILLION)            129

TABLE 90              CHINA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       130

TABLE 91              CHINA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       130

TABLE 92              JAPAN: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 131

TABLE 93              JAPAN: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 132

TABLE 94              INDIA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 133

TABLE 95              INDIA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 133

TABLE 96              SOUTH KOREA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)            134

TABLE 97              SOUTH KOREA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)            135

TABLE 98              AUSTRALIA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)            135

TABLE 99              AUSTRALIA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)            136

TABLE 100            REST OF ASIA PACIFIC: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)        137

TABLE 101            REST OF ASIA PACIFIC: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)        137

TABLE 102            NORTH AMERICA: ENGINE MARKET, BY POWER RATING,

2021–2023 (USD MILLION)            139

TABLE 103            NORTH AMERICA: ENGINE MARKET, BY POWER RATING,

2024–2029 (USD MILLION)            139

TABLE 104            NORTH AMERICA: ENGINE MARKET, BY POWER RATING, 2021–2023 (UNITS)         139

TABLE 105            NORTH AMERICA: ENGINE MARKET, BY POWER RATING, 2024–2029 (UNITS)         140

TABLE 106            NORTH AMERICA: ENGINE MARKET, BY FUEL TYPE, 2021–2023 (USD MILLION)                140

TABLE 107            NORTH AMERICA: ENGINE MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)                140

TABLE 108            NORTH AMERICA: ENGINE MARKET, BY SPEED, 2021–2023 (USD MILLION)            141

TABLE 109            NORTH AMERICA: ENGINE MARKET, BY SPEED, 2024–2029 (USD MILLION)            141

TABLE 110            NORTH AMERICA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)  141

TABLE 111            NORTH AMERICA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)  142

TABLE 112            NORTH AMERICA: ENGINE MARKET, BY COUNTRY, 2021–2023 (USD MILLION)     142

TABLE 113            NORTH AMERICA: ENGINE MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     142

TABLE 114            US: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 143

TABLE 115            US: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 144

TABLE 116            CANADA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       145

TABLE 117            CANADA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       145

TABLE 118            MEXICO: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       146

TABLE 119            MEXICO: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       146

TABLE 120            EUROPE: ENGINE MARKET, BY POWER RATING, 2021–2023 (USD MILLION)            147

TABLE 121            EUROPE: ENGINE MARKET, BY POWER RATING, 2024–2029 (USD MILLION)            148

TABLE 122            EUROPE: ENGINE MARKET, BY POWER RATING, 2021–2023 (UNITS)            148

TABLE 123            EUROPE: ENGINE MARKET, BY POWER RATING, 2024–2029 (UNITS)            148

TABLE 124            EUROPE: ENGINE MARKET, BY FUEL TYPE, 2021–2023 (USD MILLION)       149

TABLE 125            EUROPE: ENGINE MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)       149

TABLE 126            EUROPE: ENGINE MARKET, BY SPEED, 2021–2023 (USD MILLION) 149

TABLE 127            EUROPE: ENGINE MARKET, BY SPEED, 2024–2029 (USD MILLION) 150

TABLE 128            EUROPE: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       150

TABLE 129            EUROPE: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       150

TABLE 130            EUROPE: ENGINE MARKET, BY COUNTRY, 2021–2023 (USD MILLION)       151

TABLE 131            EUROPE: ENGINE MARKET, BY COUNTRY, 2024–2029 (USD MILLION)       151

TABLE 132            GERMANY: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       152

TABLE 133            GERMANY: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       152

TABLE 134            UK: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 153

TABLE 135            UK: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 154

TABLE 136            ITALY: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 155

TABLE 137            ITALY: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 155

TABLE 138            FRANCE: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       156

TABLE 139            FRANCE: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       157

TABLE 140            SPAIN: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 158

TABLE 141            SPAIN: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 158

TABLE 142            REST OF EUROPE: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)  159

TABLE 143            REST OF EUROPE: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)  160

TABLE 144            MIDDLE EAST & AFRICA: ENGINE MARKET, BY POWER RATING,

2021–2023 (USD MILLION)            161

TABLE 145            MIDDLE EAST & AFRICA: ENGINE MARKET, BY POWER RATING,

2024–2029 (USD MILLION)            161

TABLE 146            MIDDLE EAST & AFRICA: ENGINE MARKET, BY POWER RATING,

2021–2023 (UNITS)            161

TABLE 147            MIDDLE EAST & AFRICA: ENGINE MARKET, BY POWER RATING,

2024–2029 (UNITS)            162

TABLE 148            MIDDLE EAST & AFRICA: ENGINE MARKET, BY FUEL TYPE,

2021–2023 (USD MILLION)            162

TABLE 149            MIDDLE EAST & AFRICA: ENGINE MARKET, BY FUEL TYPE,

2024–2029 (USD MILLION)            162

TABLE 150            MIDDLE EAST & AFRICA: ENGINE MARKET, BY SPEED, 2021–2023 (USD MILLION)             163

TABLE 151            MIDDLE EAST & AFRICA: ENGINE MARKET, BY SPEED, 2024–2029 (USD MILLION)             163

TABLE 152            MIDDLE EAST & AFRICA: ENGINE MARKET, BY END USE,

2021–2023 (USD MILLION)            163

TABLE 153            MIDDLE EAST & AFRICA: ENGINE MARKET, BY END USE,

2024–2029 (USD MILLION)            164

TABLE 154            MIDDLE EAST & AFRICA: ENGINE MARKET, BY COUNTRY,

2021–2023 (USD MILLION)            164

TABLE 155            MIDDLE EAST & AFRICA: ENGINE MARKET, BY COUNTRY,

2024–2029 (USD MILLION)            164

TABLE 156            GCC: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 165

TABLE 157            GCC: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 166

TABLE 158            GCC: ENGINE MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 166

TABLE 159            GCC: ENGINE MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 166

TABLE 160            SAUDI ARABIA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)            167

TABLE 161            SAUDI ARABIA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)            168

TABLE 162            UAE: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 169

TABLE 163            UAE: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 169

TABLE 164            REST OF GCC COUNTRIES: ENGINE MARKET, BY END USE,

2021–2023 (USD MILLION)            170

TABLE 165            REST OF GCC COUNTRIES: ENGINE MARKET, BY END USE,

2024–2029 (USD MILLION)            170

TABLE 166            SOUTH AFRICA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)            171

TABLE 167            SOUTH AFRICA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)            171

TABLE 168            EGYPT: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       172

TABLE 169            EGYPT: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       172

TABLE 170            REST OF MIDDLE EAST & AFRICA: ENGINE MARKET, BY END USE,

2021–2023 (USD MILLION)            173

TABLE 171            REST OF MIDDLE EAST & AFRICA: ENGINE MARKET, BY END USE,

2024–2029 (USD MILLION)            174

TABLE 172            SOUTH AMERICA: ENGINE MARKET, BY POWER RATING,

2021–2023 (USD MILLION)            175

TABLE 173            SOUTH AMERICA: ENGINE MARKET, BY POWER RATING,

2024–2029 (USD MILLION)            175

TABLE 174            SOUTH AMERICA: ENGINE MARKET, BY POWER RATING, 2021–2023 (UNITS)         175

TABLE 175            SOUTH AMERICA: ENGINE MARKET, BY POWER RATING, 2024–2029 (UNITS)         176

TABLE 176            SOUTH AMERICA: ENGINE MARKET, BY FUEL TYPE, 2021–2023 (USD MILLION)                176

TABLE 177            SOUTH AMERICA: ENGINE MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)                176

TABLE 178            SOUTH AMERICA: ENGINE MARKET, BY SPEED, 2021–2023 (USD MILLION)            177

TABLE 179            SOUTH AMERICA: ENGINE MARKET, BY SPEED, 2024–2029 (USD MILLION)            177

TABLE 180            SOUTH AMERICA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)  177

TABLE 181            SOUTH AMERICA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)  178

TABLE 182            SOUTH AMERICA: ENGINE MARKET, BY COUNTRY, 2021–2023 (USD MILLION)     178

TABLE 183            SOUTH AMERICA: ENGINE MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     178

TABLE 184            BRAZIL: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)       179

TABLE 185            BRAZIL: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)       180

TABLE 186            ARGENTINA: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION)            181

TABLE 187            ARGENTINA: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION)            181

TABLE 188            CHILE: ENGINE MARKET, BY END USE, 2021–2023 (USD MILLION) 182

TABLE 189            CHILE: ENGINE MARKET, BY END USE, 2024–2029 (USD MILLION) 182

TABLE 190            REST OF SOUTH AMERICA: ENGINE MARKET, BY END USE,

2021–2023 (USD MILLION)            183

TABLE 191            REST OF SOUTH AMERICA: ENGINE MARKET, BY END USE,

2024–2029 (USD MILLION)            184

TABLE 192            ENGINE MARKET: OVERVIEW OF STRATEGIES ADOPTED

BY KEY PLAYERS, JANUARY 2019– SEPTEMBER 2024           185

TABLE 193            ENGINE MARKET: DEGREE OF COMPETITION, 2023        188

TABLE 194            ENGINE MARKET: REGION FOOTPRINT 194

TABLE 195            ENGINE MARKET: FUEL TYPE FOOTPRINT                 195

TABLE 196            ENGINE MARKET: POWER RATING FOOTPRINT                 196

TABLE 197            ENGINE MARKET: END USE FOOTPRINT                 197

TABLE 198            ENGINE MARKET: SPEED FOOTPRINT   198

TABLE 199            ENGINE MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES          201

TABLE 200            ENGINE MARKET: DETAILED LIST OF KEY STARTUPS/SMES              202

TABLE 201            ENGINE MARKET: PRODUCT LAUNCHES/DEVELOPMENTS,

JANUARY 2019–  SEPTEMBER 2024            204

TABLE 202            ENGINE MARKET: DEALS, JANUARY 2019– SEPTEMBER 2024              205

TABLE 203            ENGINE MARKET: OTHER DEVELOPMENTS, JANUARY 2019– SEPTEMBER 2024               206

TABLE 204            CATERPILLAR: COMPANY OVERVIEW    208

TABLE 205            CATERPILLAR: PRODUCTS/SERVICES/SOLUTIONS OFFERED    209

TABLE 206            CATERPILLAR: PRODUCT LAUNCHES/DEVELOPMENTS    211

TABLE 207            CATERPILLAR: DEALS    213

TABLE 208            CATERPILLAR: OTHER DEVELOPMENTS                 213

TABLE 209            CUMMINS INC.: COMPANY OVERVIEW  216

TABLE 210            CUMMINS INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    217

TABLE 211            CUMMINS INC.: PRODUCT LAUNCHES   218

TABLE 212            CUMMINS INC.: DEALS  219

TABLE 213            CUMMINS INC.: OTHER DEVELOPMENTS                 219

TABLE 214            GENERAL ELECTRIC COMPANY: COMPANY OVERVIEW          221

TABLE 215            GENERAL ELECTRIC COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED    222

TABLE 216            GENERAL ELECTRIC COMPANY: PRODUCT LAUNCHES/DEVELOPMENTS    225

TABLE 217            GENERAL ELECTRIC COMPANY: DEALS 225

TABLE 218            GENERAL ELECTRIC COMPANY: OTHER DEVELOPMENTS              226

TABLE 219            RTX: COMPANY OVERVIEW         228

TABLE 220            RTX: PRODUCTS/SERVICES/SOLUTIONS OFFERED             229

TABLE 221            RTX: DEALS        230

TABLE 222            RTX: OTHER DEVELOPMENTS   231

TABLE 223            GENERAL MOTORS: COMPANY OVERVIEW                 233

TABLE 224            GENERAL MOTORS: PRODUCTS/SERVICES/SOLUTIONS OFFERED    234

TABLE 225            ROLLS ROYCE HOLDINGS: COMPANY OVERVIEW          236

TABLE 226            ROLLS ROYCE HOLDINGS: PRODUCTS/SERVICES/SOLUTIONS OFFERED    237

TABLE 227            ROLLS ROYCE HOLDINGS: PRODUCT LAUNCHES/DEVELOPMENTS    238

TABLE 228            ROLLS ROYCE HOLDINGS: DEALS            238

TABLE 229            ROLLS ROYCE HOLDINGS: OTHER DEVELOPMENTS              239

TABLE 230            MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW   241

TABLE 231            MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS/SERVICES/

SOLUTIONS OFFERED   242

TABLE 232            MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCT LAUNCHES/DEVELOPMENTS               243

TABLE 233            MITSUBISHI HEAVY INDUSTRIES, LTD.: DEALS                 243

TABLE 234            HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW          244

TABLE 235            HONEYWELL INTERNATIONAL INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    245

TABLE 236            HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES/DEVELOPMENTS    246

TABLE 237            HONEYWELL INTERNATIONAL INC.: DEALS                 247

TABLE 238            HONEYWELL INTERNATIONAL INC.: OTHER DEVELOPMENTS              248

TABLE 239            AB VOLVO: COMPANY OVERVIEW           249

TABLE 240            AB VOLVO: PRODUCTS/SERVICES/SOLUTIONS OFFERED             250

TABLE 241            AB VOLVO: PRODUCT LAUNCHES/DEVELOPMENTS    251

TABLE 242            AB VOLVO: DEALS           251

TABLE 243            SCANIA CV AB: COMPANY OVERVIEW    252

TABLE 244            SCANIA CV AB: PRODUCTS/SERVICES/SOLUTIONS OFFERED    253

TABLE 245            SCANIA CV AB: PRODUCT LAUNCHES/DEVELOPMENTS    254

TABLE 246            HONDA MOTOR CO., LTD.: COMPANY OVERVIEW          255

TABLE 247            HONDA MOTOR CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    256

TABLE 248            HONDA MOTOR CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS    258

TABLE 249            KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW   259

TABLE 250            KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    260

TABLE 251            KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCT LAUNCHES/DEVELOPMENTS               261

TABLE 252            TOYOTA INDUSTRIES CORPORATION: COMPANY OVERVIEW   262

TABLE 253            TOYOTA INDUSTRIES CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED    263

TABLE 254            SAFRAN: COMPANY OVERVIEW 265

TABLE 255            SAFRAN: PRODUCTS/SERVICES/SOLUTIONS OFFERED             266

TABLE 256            SAFRAN: DEALS                 267

TABLE 257            SAFRAN: EXPANSIONS   268

TABLE 258            WÄRTSILÄ: COMPANY OVERVIEW            269

TABLE 259            WÄRTSILÄ: PRODUCTS/SERVICES/SOLUTIONS OFFERED             270

LIST OF FIGURES

FIGURE 1              ENGINE MARKET SEGMENTATION AND REGIONAL SCOPE            24

FIGURE 2              ENGINE MARKET: RESEARCH DESIGN    29

FIGURE 3              ENGINE MARKET: DATA TRIANGULATION                 34

FIGURE 4              KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR ENGINES                35

FIGURE 5              ENGINE MARKET: BOTTOM-UP APPROACH                 36

FIGURE 6              ENGINE MARKET: TOP-DOWN APPROACH                 38

FIGURE 7              KEY STEPS CONSIDERED TO ASSESS SUPPLY OF ENGINES              39

FIGURE 8              ENGINE MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE)               39

FIGURE 9              ENGINE MARKET: RESEARCH ASSUMPTIONS                 41

FIGURE 10            ENGINE MARKET: RESEARCH LIMITATIONS                 41

FIGURE 11            ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF ENGINE MARKET IN 2023         43

FIGURE 12            DIESEL SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2024 44

FIGURE 13            VERY HIGH SEGMENT TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD          44

FIGURE 14            BELOW 0.5 MW SEGMENT TO DOMINATE ENGINE MARKET FROM 2024 TO 2029     45

FIGURE 15            AUTOMOTIVE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 45

FIGURE 16            INCREASING DEMAND FOR UNINTERRUPTED POWER SUPPLY TO DRIVE

ENGINE MARKET              46

FIGURE 17            AUTOMOTIVE SEGMENT AND CHINA TO HOLD LARGEST SHARES OF ASIA PACIFIC ENGINE MARKET IN 2029                 47

FIGURE 18            AUTOMOTIVE SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2029             47

FIGURE 19            VERY HIGH SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029             48

FIGURE 20            DIESEL SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029   48

FIGURE 21            BELOW 0.5 MW SEGMENT TO CAPTURE LARGEST SHARE OF ENGINES

MARKET IN 2029                49

FIGURE 22            ENGINE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES     51

FIGURE 23            GLOBAL FINAL ELECTRICITY DEMAND, BY APPLICATION, 2015 VS. 2022        52

FIGURE 24            GROWING GLOBAL POPULATION, 2015–2023                 54

FIGURE 25            GLOBAL CARBON DIOXIDE EMISSIONS FROM ENERGY COMBUSTION AND INDUSTRIAL PROCESSES, 2015–2023        57

FIGURE 26            OFF-GRID RENEWABLE ENERGY CAPACITY, BY ENERGY SOURCE, 2021–2023        58

FIGURE 27            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS   60

FIGURE 28            AVERAGE SELLING PRICE TREND OF ENGINES, BY REGION, 2021–2023    62

FIGURE 29            VALUE CHAIN ANALYSIS               63

FIGURE 30            ENGINE ECOSYSTEM ANALYSIS 64

FIGURE 31            INVESTMENT AND FUNDING SCENARIO, 2024                 66

FIGURE 32            PATENTS APPLIED AND GRANTED, 2014–2023                 68

FIGURE 33            EXPORT SCENARIO FOR HS CODE 8407-COMPLIANT PRODUCTS  FOR TOP 5 COUNTRIES, 2021–2023                 73

FIGURE 34            IMPORT SCENARIO FOR HS CODE 8407-COMPLIANT PRODUCTS  FOR TOP 5 COUNTRIES, 2021–2023                 75

FIGURE 35            PORTER’S FIVE FORCES ANALYSIS           86

FIGURE 36            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS  FOR TOP THREE END USES  87

FIGURE 37            KEY BUYING CRITERIA FOR TOP THREE END USES      88

FIGURE 38            IMPACT OF GENERATIVE AI/AI ON REGIONAL ENGINE MARKET, BY END USE  90

FIGURE 39            ENGINE MARKET SHARE, BY FUEL TYPE, 2023                 95

FIGURE 40            ENGINE MARKET SHARE, BY SPEED, 2023                 102

FIGURE 41            ENGINE MARKET SHARE, BY POWER RATING, 2023        108

FIGURE 42            ASIA PACIFIC TO REGISTER HIGHEST CAGR IN ENGINE MARKET DURING

FORECAST PERIOD         122

FIGURE 43            ENGINE MARKET SHARE, BY REGION, 2023                 122

FIGURE 44            ASIA PACIFIC: ENGINE MARKET SNAPSHOT                 125

FIGURE 45            NORTH AMERICA: ENGINE MARKET SNAPSHOT                 138

FIGURE 46            MARKET SHARE ANALYSIS OF COMPANIES OFFERING ENGINES, 2023             189

FIGURE 47            ENGINE MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2019–2023                190

FIGURE 48            ENGINE MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023     192

FIGURE 49            ENGINE MARKET: COMPANY FOOTPRINT                 193

FIGURE 50            ENGINE MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023               200

FIGURE 51            COMPANY VALUATION, 2024      202

FIGURE 52            FINANCIAL METRICS, 2024            203

FIGURE 53            ENGINE MARKET: PRODUCT COMPARISON                 203

FIGURE 54            CATERPILLAR: COMPANY SNAPSHOT    209

FIGURE 55            CUMMINS INC.: COMPANY SNAPSHOT  217

FIGURE 56            GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT          222

FIGURE 57            RTX: COMPANY SNAPSHOT        229

FIGURE 58            GENERAL MOTORS: COMPANY SNAPSHOT                 234

FIGURE 59            ROLLS ROYCE HOLDINGS: COMPANY SNAPSHOT          237

FIGURE 60            MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT   242

FIGURE 61            HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT          245

FIGURE 62            AB VOLVO: COMPANY SNAPSHOT           250

FIGURE 63            SCANIA CV AB: COMPANY SNAPSHOT    253

FIGURE 64            HONDA MOTOR CO., LTD.: COMPANY SNAPSHOT          256

FIGURE 65            KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT   260

FIGURE 66            TOYOTA INDUSTRIES CORPORATION: COMPANY SNAPSHOT   263

FIGURE 67            SAFRAN: COMPANY SNAPSHOT 266

FIGURE 68            WÄRTSILÄ: COMPANY SNAPSHOT            270